Atlassian Corporation PLC $TEAM Holdings Lifted by Scge Management L.P.

Key Points

• Scge Management L.P. has increased its stake in Atlassian Corporation PLC by 17.0%, owning approximately 996,000 shares and making it the firm's 8th largest position, valued at around $211 million.
• Several major investment firms have shifted their positions in Atlassian, including Nuveen LLC and AQR Capital Management, with many increasing their holdings significantly in the last quarter.
• Atlassian's recent quarterly earnings surpassed expectations, reporting $0.98 earnings per share and $1.38 billion in revenue, reflecting a 22.3% increase year-over-year.

Scge Management L.P. lifted its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 996,000 shares of the technology company's stock after purchasing an additional 145,000 shares during the quarter. Atlassian comprises about 6.1% of Scge Management L.P.'s holdings, making the stock its 8th biggest holding. Scge Management L.P. owned about 0.38% of Atlassian worth $211,361,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TEAM. Petrus Trust Company LTA purchased a new position in Atlassian in the first quarter valued at $232,000. Nissay Asset Management Corp Japan ADV increased its holdings in Atlassian by 11.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 39,578 shares of the technology company's stock worth $8,399,000 after purchasing an additional 4,068 shares during the period. NewEdge Advisors LLC raised its position in Atlassian by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 2,267 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Atlassian by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,867 shares of the technology company's stock valued at $23,317,000 after buying an additional 6,368 shares during the period. Finally, EFG Asset Management North America Corp. acquired a new position in shares of Atlassian during the first quarter worth about $928,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $192.68, for a total transaction of $1,476,892.20. Following the completion of the transaction, the director directly owned 38,325 shares in the company, valued at $7,384,461. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $199.71, for a total value of $1,530,777.15. Following the sale, the chief executive officer owned 22,995 shares in the company, valued at approximately $4,592,331.45. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 536,278 shares of company stock worth $100,977,258. Insiders own 38.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group reiterated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Raymond James Financial dropped their price target on Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Truist Financial set a $230.00 price objective on shares of Atlassian in a research report on Friday, August 8th. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Barclays dropped their target price on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $256.90.

Atlassian Price Performance

TEAM traded up $9.66 during trading on Tuesday, reaching $182.36. 3,624,122 shares of the stock were exchanged, compared to its average volume of 2,410,099. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $47.84 billion, a price-to-earnings ratio of -184.20 and a beta of 0.95. Atlassian Corporation PLC has a 1 year low of $154.07 and a 1 year high of $326.00. The business's 50 day moving average price is $184.52 and its two-hundred day moving average price is $205.87.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the business posted $0.66 earnings per share. The business's revenue for the quarter was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.